SenSen Networks Limited Stock Forecast
High volatility in SenSen Networks Limited stock price on Monday which ended trading at $0.0240
(Updated on Jun 17, 2024)
The SenSen Networks Limited stock price fell by -14.29% on the last day (Monday, 17th Jun 2024) from $0.0280 to $0.0240. During the last trading day the stock fluctuated 21.74% from a day low at $0.0230 to a day high of $0.0280. The price has been going up and down for this period, and there has been a -11.11% loss for the last 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $136.75 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0226 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.22% during the next 3 months and, with a 90% probability hold a price between $0.0274 and $0.0399 at the end of this 3-month period.
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SNS.AX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The SenSen Networks Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0264 and $0.0252. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -17.24%. Further fall is indicated until a new bottom pivot has been found. SenSen Networks Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for SenSen Networks Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0220 and $0.0210. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SenSen Networks Limited finds support just below today's level at $0.0220. If this is broken, then the next support from accumulated volume will be at $0.0210 and $0.0200.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 21.74%. For the last week, the stock has had daily average volatility of 4.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNS.AX) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect SenSen Networks Limited to open at $0.0250, and during the day (based on 14 day Average True Range), to move between $0.0219 and $0.0261, which gives a possible trading interval of +/-$0.0021 (+/-8.58%) up or down from last closing price. If SenSen Networks Limited takes out the full calculated possible swing range there will be an estimated 17.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0250 (4.17%) than the support at $0.0220 (8.33%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is SenSen Networks Limited stock A Buy?
The SenSen Networks Limited stock holds several negative signals and despite the positive trend, we believe SenSen Networks Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.880 Sell Candidate Downgraded
Predicted Opening Price for SenSen Networks Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0250 ( 4.17%) | $0.0240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0300 | 25.00% |
| R2 | 0.0281 | 17.04% |
| R1 | 0.0269 | 12.13% |
| Price | 0.0240 | |
| S1 | 0.0231 | -3.79% |
| S2 | 0.0219 | -8.71% |
| S3 | 0.0200 | -16.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0290 | 20.83% |
| R2 | 0.0270 | 12.50% |
| R1 | 0.0250 | 4.17% |
| Price | 0.0240 | |
| S1 | 0.0220 | -8.33% |
| S2 | 0.0210 | -12.50% |
| S3 | 0.0200 | -16.67% |
FAQ
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